This book examines the slow growth and other problems experienced by the Eurozone in its early years, and the challenges which it now faces. The authors investigate the operation of monetary and fiscal policy in the Eurozone, the extent of structural reform and the reasons for it, and other topics

Economic policy transmission between trade partners has been analyzed over different contexts in the literature. Depending on real or nominal frictions, the results indicate possible beggar-thy-neighbor effects for policies, given international trade, and need for coordinating policies. The...

In macroeconomic theory, different approaches discuss the ability of monetary policy to affect real variables in the long run. This research proposes the empirical application of a theoretical model that includes nominal rigidities arising from transaction costs and real rigidities arising from...

Economic performance increasingly relies on global economic environment due to the growing importance of trade and financial links among countries. This work aims to analyze the possible effects of a potential economic growth downturn or one large negative shock in China, Germany and United...

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high...

In the wake of the 2016 U.S. presidential election, investors and the electorate alike are seeking clarity on a wide range of macro policy issues that will impact the economy and markets in the years ahead. The primary goal of this book is to provide an objective source for investors to learn...

Macroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact...

This book analyses Jamaica’s ability to satisfy its short and long run foreign currency obligations in light of recurrent balance of payment support from international lending agencies. Jamaica is one of the top five indebted nations in the world, and despite entering 13 successive...

This book examines the struggles of the Japanese economy over the last 30 years, analyzing in detail the formation of the huge economic bubble in the 1980s, its collapse at the beginning of the 1990s, and subsequent two decade long economic stagnation and chronic deflation, with the aim of...

This book presents empirical evidence that supports and facilitates a practical, integrated approach to how bank regulatory and selected macro-prudential tools interact with monetary policy to achieve price and financial stability. The empirical results contained in various chapters accompany...